Saudi Press

Saudi Arabia and the world
Thursday, Oct 02, 2025

IPhone builder Foxconn is working on an electric car with Fisker

IPhone builder Foxconn is working on an electric car with Fisker

Foxconn, the Taiwan-based electronics manufacturing company best known for assembling the Apple iPhone, is working on an agreement with the California electric car company Fisker to develop an electric vehicle, the companies announced Wednesday.

Fisker Inc. (SPAQ) went public last year through a SPAC merger with Spartan Energy Acquisition.

Founded by car designer Henrik Fisker, the company already has an agreement with Magna, an automotive contract manufacturing company. Magna is expected to start building the Fisker Ocean electric SUV by the end of 2022. The Ocean is based on engineering developed by Magna but modified by Fisker.

Fisker is now working on a similar arrangement with Foxconn, according to a joint press release from both companies. The companies announced a memorandum of understanding and did not reveal any financial terms of the potential deal.

The Fisker and Foxconn vehicle would be Fisker's second model after the Ocean. The two firms released few details other than a vague design sketch of the car. Fisker and Foxconn did not announce a target price for the vehicle they intend to work on.

Fisker and Foxconn released this sketch of their proposed electric vehicle.


"Not unlike when Isaac Newton realized the powers of gravity, the inspiration for this project has come from some unconventional sources," the release quoted Mr. Fisker as saying. "The design sketch hints at the direction we are taking. However, with the level of innovation planned for this vehicle, I intend to keep the final design a surprise until the last possible moment!"

With large wheels and a body like a sports car, the sketch most closely resembles the coupé-shaped SUVs made by a number of luxury automakers, such as BMW and Mercedes-Benz.

The companies plan to produce more than 250,000 of the vehicles a year, according to Fisker, with production set to start by the end of 2023.

Foxconn Technology Group Chairman Young-way Liu touted the company's expertise in electric motors, control modules and batteries in a statement announcing the arrangement.

"The collaboration between our firms means that it will only take 24 months to produce the next Fisker vehicle -- from research and development to production, reducing half of the traditional time required to bring a new vehicle to market," Young-way Liu said in the statement.

At the beginning of 2020 Foxconn said it was looking into making electric vehicles with Fiat Chrysler Automobiles. FCA later merged with France's PSA to create Stellantis. Foxconn did not immediately reply to a request for updates on those plans. Nick Cappa, the Stellantis spokesman in the US, said he had no updates on those discussions.

In January, Foxconn announced a deal with Geely, the Chinese parent company of Volvo and Lotus, to develop and produce vehicles for other automakers.

Henrik Fisker, the founder of Fisker Inc., was once a designer for Aston Martin and BMW. He also designed the Fisker Karma for his previous car company, Fisker Automotive, which filed for bankruptcy protection in 2013 and its assets were eventually sold off.

To date, Fisker has 12,000 pre-paid reservations for the Fisker Ocean SUV at a cost of $250 each. Once in production, the SUV will sell for a starting price of $37,500 before tax incentives.

Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
Altman Says GPT-5 Already Outpaces Him, Warns AI Could Automate 40% of Work
Trump Organization Teams with Saudi Developer on $1 Billion Trump Plaza in Jeddah
Electronic Arts to Be Taken Private in Historic $55 Billion Buyout
Colombian President Petro Vows to Mobilize Volunteers for Gaza and Joins List of Fighters
Nvidia and Abu Dhabi’s TII Launch First AI-&-Robotics Lab in the Middle East
UK, Canada, and Australia Officially Recognise Palestine in Historic Shift
New Eye Drops Show Promise in Replacing Reading Glasses for Presbyopia
Dubai Property Boom Shows Strain as Flippers Get Buyer’s Remorse
Top AI Researchers Are Heading Back to China as U.S. Struggles to Keep Pace
JWST Data Brings TRAPPIST-1e Closer to Earth-Like Habitability
UAE-US Stargate Project Poised to Make Abu Dhabi a Global AI Powerhouse
Trump and Starmer Clash Over UK Recognition of Palestinian State Amid State Visit
Saudi Arabia cracks down on music ‘lounges’ after conservative backlash
Saudi Arabia Signs ‘Strategic Mutual Defence’ Pact with Pakistan, Marking First Arab State to Gain Indirect Access to Nuclear Strike Capabilities in the Region
Sam Altman sells the 'Wedding Estate' in Hawaii for 49 million dollars
Turkish car manufacturer Togg Enters German Market with 5-Star Electric Sedan and SUV to Challenge European EV Brands
World’s Longest Direct Flight China Eastern to Launch 29-Hour Shanghai–Buenos Aires Direct Flight via Auckland in December
New OpenAI Study Finds Majority of ChatGPT Use Is Personal, Not Professional
Kuwait opens bidding for construction of three cities to ease housing crunch.
This Week in AI: Meta’s Superintelligence Push, xAI’s Ten Billion-Dollar Raise, Genesis AI’s Robotics Ambitions, Microsoft Restructuring, Amazon’s Million-Robot Milestone, and Google’s AlphaGenome Update
Indian Student Engineers Propose “Project REBIRTH” to Protect Aircraft from Crashes Using AI, Airbags and Smart Materials
Could AI Nursing Robots Help Healthcare Staffing Shortages?
Turkish authorities seize leading broadcaster amid fraud and tax investigation
Qatari prime minister says Netanyahu ‘killed any hope’ for Israeli hostages
Apple Introduces Ultra-Thin iPhone Air, Enhanced 17 Series and New Health-Focused Wearables
Big Oil Slashes Jobs and Investments Amid Prolonged Low Crude Prices
Social Media Access Curtailed in Turkey After CHP Calls for Rallies Following Police Blockade of Istanbul Headquarters
Did the Houthis disrupt the internet in the Middle East? Submarine cables cut in the Red Sea
Gold Could Reach Nearly $5,000 if Fed Independence Is Undermined, Goldman Sachs Warns
Uruguay, Colombia and Paraguay Secure Places at 2026 World Cup
Trump Administration Advances Plans to Rebrand Pentagon as Department of War Instead of the Fake Term Department of Defense
Tether Expands into Gold Sector with Profit-Driven Diversification
Trump’s New War – and the ‘Drug Tyrant’ Fearing Invasion: ‘1,200 Missiles Aimed at Us’
At the Parade in China: Laser Weapons, 'Eagle Strike,' and a Missile Capable of 'Striking Anywhere in the World'
Information Warfare in the Age of AI: How Language Models Become Targets and Tools
Israeli Airstrike in Yemen Kills Houthi Prime Minister
After the Shock of Defeat, Iranians Yearn for Change
YouTube Altered Content by Artificial Intelligence – Without Permission
Iran Faces Escalating Water Crisis as Protests Spread
More Than Half a Million Evacuated as Typhoon Kajiki Heads for Vietnam
HSBC Switzerland Ends Relationships with Over 1,000 Clients from Saudi Arabia, Lebanon, Qatar, and Egypt
Sharia Law Made Legally Binding in Austria Despite Warnings Over 'Incompatible' Values
Dogfights in the Skies: Airbus on Track to Overtake Boeing and Claim Aviation Supremacy
Tim Cook Promises an AI Revolution at Apple: "One of the Most Significant Technologies of Our Generation"
Are AI Data Centres the Infrastructure of the Future or the Next Crisis?
Miles Worth Billions: How Airlines Generate Huge Profits
Zelenskyy Returns to White House Flanked by European Allies as Trump Pressures Land-Swap Deal with Putin
Beijing is moving into gold and other assets, diversifying away from the dollar
Cristiano Ronaldo Makes Surprise Stop at New Hong Kong Museum
Zelenskyy to Visit Washington after Trump–Putin Summit Yields No Agreement
×